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BUS 475 Strategic Planning

A solved strategic planning assignment covering key frameworks and business applications.

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    Strategic Planning 1 Strategic Planning Name BUS 475 Instructor Date 1. Power House Gym is expanding its business by launching a new division to offer online access to various exercise routines, healthy recipes, and additional services. In light of this, address the following: 2. Discuss the strategic plan Power House Gym is proposing for growth and expansion. How does the inclusion of the new division contribute to the company’s future success? Evaluate the strengths and potential risks of these strategies, including competitive analysis, marketing campaigns, and customer engagement. 3. Analyze the ethical, legal, and regulatory concerns related to both the new division and the existing gym facilities. How does the company plan to address these issues, and what potential challenges might arise? 4. Evaluate the effectiveness of utilizing technology and social media platforms (e.g., Facebook, YouTube, and Google Analytics) in promoting the new division. How can Power House Gym benefit from these digital marketing strategies in terms of customer acquisition, retention, and brand awareness? 5. Word Count Requirement: 1,500 – 2,000 words.

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    Strategic Planning 2 Table of Contents Executive Summary 3 Strategies 5 Conceptualizing in Business 7 SWOTT Analysis 11 Balance Scorecard 17 Reference 23 Executive Summary Power House Gym initially opened its entryway in 1975; it initially began as an exercise center office where the area can do their activities. Inevitably proficient competitors began to prepare at Power House Gym, competitors, for example, Tommy Hearns and Tommy Platz. In 1984 Power House Gym began their endeavor of developing the organization by franchising. Quick forward to the present Power House Gym has now 300 establishments in United States and in 17 nations around the world. Indeed, even with current accomplishment of Power House Gym the organization would not like to stop there. Power House Gym is proposing another division to further develop and extend the organization both state side and all around, without the expense of block and mortar. The new division will give an influence and focused edge to which some our rivals don't have. The new division will encapsulate the mission of "more than a wellness, its a lifestyle". Notwithstanding having an influence and focused edge the new division will likewise give an additional administration and accommodation to our present and future clients.

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    Strategic Planning 3 The new vision for the division was created with our customers in mind. Power House Gym realized that at times the option of going to the facility to exercise is not an option due to busy schedules of our customers. We also put into consideration the global downfall of the economy. With the new division added to our program our current and future customers will have the opportunity to exercise anytime and anywhere. On top of having the ability to workout anytime and anywhere Power House Gym also made the new division affordable so everyone has the opportunity to take advantage of what we have to offer. To promote the new division the goal is to take advantage of the technology and current marketing trend. Power House Gym has also put into consideration the potential ethical, legal, and regulatory issue that may occur during the process of the new division. In this proposal Power House Gym has divided the strategies we plan to implement into three parts which are conceptualizing in business, SWOTT analysis, and balance scorecard. These three categories will further explain the new division’s vision in more detail and how it will guide Power House Gym for continues success for the future to come. Strategies In order for Power House Gym to grow and expand analyzing the competition will be part of the strategy. Researching their services have to offer in comparison to what Power House

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    Strategic Planning 4 Gym should, should provide a competitive edge for the company. Also looking into their marketing campaign could provide some insights of what may or may not work. To expand and grow the company Power House Gym is planning on adding a new division that will provide various types of exercises that could access through the Power House Gym website. On top of the various exercises healthy recipes will also be included with the new service along with other optional service. Qualified and certified trainers, nutritionist, and consultants will provide excellent customer satisfaction and will be a vital part of the strategies to grow and expand the company. A new marketing campaign will be launch to promote not only the new division but the company as a whole. With the growth of technology Power House Gym is planning to take full advantage of this to minimize the cost of marketing and receive a higher ROI. Power House Gym will be implementing both paid and free advertising through online marketing and social medias such as Facebook, Twitter, Youtube, Vimeo, and Podcasting are just some examples on how we are going to take advantage of technology for our marke ting campaigns. For the paid advertising CPC (cost per click) through search engine such as Google and Bing will be utilize, using the this form of marketing will allow Power House Gym to monitor the traffic and demographic potential clients. The same concept will also be used with Facebook as far CPC, the advantage of paid marketing with Facebook is it allows the marketer to target the audience by country, state, city, gender, age, and interest providing accuracy for the marketer. Just like search engines like Google, Facebook also provides analytics of the marketing campaign and it is more detailed. As far as free marketing campaign a currently the company already has a website and business page on Facebook. The website will continue is operating with and additional focus on SEO (search engine optimization) and utilize Google Analytics to monitor its progress. Business

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    Strategic Planning 5 page on Facebook will allow Power House Gym to stay connected with current and future customers allowing them to voice any suggestion or concerns about the company. This will also be a good way to monitor what our customers are thinking since they are the lifeline of the company. To increase the presence of Power House Gym Video Marketing will also be implemented as part of the marketing campaign, Youtube and Vimeo will be utilize for the video marketing. Video marketing will include announcements of new product and service along with tips on healthy living, tips on proper work out techniques without giving out all the information. While video marketing is an affective form of advertising one the biggest advantage it has compare to other type of marketing is it provides a more personal presence. As mentioned earlier the lifeline of Power House Gym is its customers however, the backbone of the company is the people in the organization. To continue the success of Power House Gym and avoid and ethical or legal issues each employees credential will be verified. It is easy for anyone to falsify their credential considering that Power House Gym services is all about healthy living and physical fitness of our clients any wrong information could potentially hurt our clients which is why it’s vital to verify employees credential. Furthermore in addition to verifying employees credentials video surveillance will be added to each facility not only for ethical and legal or regulatory issues but the safety of its customers and employees as well. As far as the new division since Power House Gym cannot monitor the actions of what they do on their own homes or wherever they may be. To avoid any ethical, legal or any regulatory issues before having access to the new division the customers will have to sign an electronic signature acknowledging an agreement of any type of exercises performed outside the Power House Gym facilities will be at their own risk since Power House Gym cannot monitor their activities. The same agreement will apply for the recipes provided by new division if not followed properly.

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    Strategic Planning 6 Conceptualizing in Business A well thought of strategic pla n not only plays a big role in the success of any small or big organization, it is also imperative for its growth. In any effective strategic plan starts with a well - considered and mission statement, vision, and value. These three categories are beneficial to its shareholders, employees, and its customers. Besides being beneficial for the company and their shareholders, they are also the driving force that provides guidance to the direction that the company is going to. It is also what separates the company from its competitors and it also provides value and ethics within the company. Business, Products, and Customers: Mission Statement Power House Gym is a gym facility that provides that not only provides equipment for its clients to work out on, they also provide other services such as group exercise classes, childcare, personal training, staff nutritionist, power express line, small group training, sport specific training. The current mission statement is “More than fitness, it’s a way life of life. At Powerhouse Gym we are committed to helping others change their lives through exercise. Our friendly and professional staff will inspire and support you in commitment to enhance the quality of your own life”. The mission statement will be the driving force of the new division that will be at added to the arsenal of Power House Gym. There are many competitors out there for Power House Gym that may offer the similar services. With the consideration of its current customers and potential customers we realized that not everyone will has the ability or convenience to always utilize the benefits a gym facility can provide. To separate Power Hous e Gym from other gym facilities a new method will have to be added for its current and potential clients. The new method will be adding videos that has several types of workout or exercise training that could

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